In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan last Friday announced a temporary policy that will expand access to FHA mortgage insurance and allow a quicker resale of foreclosed properties.FHA currently requires the seller to own (must be on the title) a Sacramento property for a minimum of 90 days before they can sell it to a buyer using FHA financing.

CitiMortgage just announced it will pilot a new Foreclosure Alternatives Program that allows distressed borrowers to stay in their homes an additional six months in exchange for the deed.

Dannehy, United States Attorney for the District of Connecticut, announced that SERGIO NATERA, 35, a licensed real estate agent residing in Bridgeport, pleaded guilty todaybefore United States Magistrate Judge Holly B.

Also just across the border in South Carolina (many commute back and forth) the Savannah River site announced it was going to create 3,000 jobs.

Major corporations have announced HUGE expenses due to the Healthcare law - WHICH WILL BE PASSED ON TO THE CONSUMER.A TOTAL ECONOMIC COLLAPSE is RAPIDLY approaching!

I wonder if that is the same church group that announced they were going to have a "peace ralley" at one of our local hero's funerals.Our local biker gang immediately announced that they would be at the funeral to provide security.

Key Features of the New Housing Rescue Plan The government’s newest housing rescue effort, which was announced Friday, includes these key tenets:·As much as $14 billion of the Troubled Asset Relief Program (TARP) will be made available to pay for writing down second liens for loans whose borrowers refinance through the Federal Housing Administration.·Lenders that facilitate refinances through the FHA will be required to write down the principal of the first mortgage by at least 10 percent so the home owner has a loan-to-value ratio no higher than 97.75 percent.·Lenders of second liens will be offered incentives of 10 cents to 21 cents per dollar of principal they write down in connection with an FHA refinance.·Borrowers who lose their jobs can apply to have their mortgage payments reduced for three to six months while they search for a new job.·Borrowers with a payment still greater than 31 percent of income after they find a job will be considered for a permanent loan modification.·To encourage more short sales and “deed in lieu†of foreclosure transactions in which the lender settles the loan for less than is owed, the government will double assistance to borrowers to $3,000 and increase incentives to subordinate lien holders and investors to $6,000.

Can you just go in and inspectthe property (announced of course)?

My post announcing my new membership and asking a question about Birdogging/wholeselling was deleted from the the starting out forum.

They give substantial weight when applying for the bridge financing to complete the deal.LIHTC's aren't the only tax credit's available- Although not advertised or announced to the public, most every municipality has an allotment of tax credits to distribute for many different reasons.